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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

December 18, 2019
EU AND EURO AREA CONSUMER PRICE INFLATION, NOVEMBER 2019

In November, the year-over-year inflation rate rose to 1.3 per cent in the European Union and to 1.0 per cent in the Euro Area.  

Year-over-year inflation was positive in all EU member states in November.  Among member states, the fastest year-over-year inflation was reported in Romania, Hungary, Slovakia and the Czech Republic, while the lowest inflation was reported in Belgium, Italy, and Portugal. 

In November 2019 food price inflation rose to 2.4 per cent (year-over-year) in the European Union and to 1.6 per cent in the Euro Area.

Year-over-year energy deflation stabilized in November at a year-over-year decline of 2.5 per cent in the European Union and 3.2 per cent in the Euro Area.

Excluding the impacts of volatile energy, food, alcohol and tobacco prices, year-over-year inflation has been more subdued in Europe throughout much of 2019.  However in recent months underlying inflation has been rising in Europe: in November 2019, the CPI excluding food, energy, alcohol and tobacco was 1.5 per cent in the European Union and 1.3 per cent in the Euro Area. 

Note, Methodological changes was made to data starting in 2015, so the year-over-year inflation rates calculated between 2015 and 2014 are based on different methodologies for the HICP.

Source: Eurostat-News Release

Statistics Canada.  Table  18-10-0004-01   Consumer Price Index, monthly, not seasonally adjusted



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